Can The Growth In The U S Current Account Deficit Be Sustained
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Can The Growth In The U S Current Account Deficit Be Sustained
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Author : Dimitri B. Papadimitriou
language : en
Publisher:
Release Date : 2006
Can The Growth In The U S Current Account Deficit Be Sustained written by Dimitri B. Papadimitriou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Budget deficits categories.
Is The U S Trade Deficit Sustainable
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Author : Catherine L. Mann
language : en
Publisher: Peterson Institute
Release Date : 1999
Is The U S Trade Deficit Sustainable written by Catherine L. Mann and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
The global financial crisis of 1997-98 and the widening US trade deficit have precipitated fresh inquiry into a set of perennial questions about global integration and the US economy. How has global integration affected US producers and workers, and overall growth and inflation? Is a chronic and widening deficit sustainable, or will the dollar crash, perhaps taking the economy with it? If the problem was one of "twin deficits," as many thought, why has the trade deficit continued to grow even as the budget deficit narrowed to zero? If US companies are so competitive, why does the trade deficit persist? Is the trade deficit a result of protectionism abroad? Will it lead to protectionism at home? What role do international capital markets have? Each chapter presents relevant data and a simple analytical framework as the basis for concise discussions of these major issues. The final section of the book provides an outlook for the deficit and suggests alternative policy courses for dealing with it. This book is designed for policymakers and others who are interested in the US role in the world economy. It is also suitable for courses in international economics, business, and international affairs.
New Strategic Analysis
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Author : Dimitri B. Papadimitriou
language : en
Publisher:
Release Date : 2006
New Strategic Analysis written by Dimitri B. Papadimitriou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
How Long Can The Unsustainable U S Current Account Deficit Be Sustained
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Author : Carol C. Bertaut
language : en
Publisher:
Release Date : 2008
How Long Can The Unsustainable U S Current Account Deficit Be Sustained written by Carol C. Bertaut and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Budget deficits categories.
This paper addresses three questions about the prospects for the U.S. current account deficit. Is it sustainable in the long term? If not, how long will it take for measures of external debt and debt service to reach levels that could prompt some pullback by global investors? And if and when such levels are breached, how readily would asset prices respond and the current account start to narrow? To address these questions, we start with projections of a detailed partial-equilibrium model of the U.S. balance of payments. Based on plausible assumptions of the key drivers of the U.S. external balance, they indicate that the current account deficit will resume widening and the negative NIIP/GDP ratio will continue to expand. However, our projections suggest that even by the year 2020, the negative NIIP/GDP ratio will be no higher than it is in several industrial economies today, and U.S. net investment income payments will remain very low. The share of U.S. claims in foreigners' portfolios will likely rise, but not to an obviously worrisome extent. All told, it seems likely it would take many years for the U.S. debt to cumulate to a level that would test global investors' willingness to extend financing. Finally, we explore the historical responsiveness of asset prices and the current account in industrial economies to measures of external imbalances and debt. We find little evidence that, as countries' net indebtedness rises, the developments needed to correct the current account--including changes in growth rates, asset prices, or exchange rates--materialize all that rapidly. We would emphasize that these findings do not imply that U.S. current account adjustment is necessarily many years away, as any number of factors could trigger such adjustment. Our point is rather that international balance sheet considerations likely are not sufficient, by themselves, to require external adjustment any time soon.
G7 Current Account Imbalances
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Author : Richard H. Clarida
language : en
Publisher: University of Chicago Press
Release Date : 2007-11-01
G7 Current Account Imbalances written by Richard H. Clarida and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-01 with Business & Economics categories.
The current account deficit of the United States is more than six percent of its gross domestic product—an all-time high. And the rest of the world, including other G7 countries such as Japan and Germany, must collectively run current account surpluses to finance this deficit. How long can such unevenness between imports and exports be sustained, and what form might their eventual reconciliation take? Putting forth scenarios ranging from a gradual correction to a crash landing for the dollar, G7 Current Account Imbalances brings together economists from around the globe to consider the origins, status, and future of those disparities. An esteemed group of collaborators here examines the role of the bursting of the dot-com bubble, the history of previous episodes of current account adjustments, and the possibility of the Euro surpassing the dollar as the leading international reserve currency. Though there are areas of broad agreement—that the imbalances will ultimately decline and that currency revaluations will be part of the solution—many areas of contention remain regarding both the dangers of imbalances and the possible forms of adjustment. This volume will be of tremendous value to economists, politicians, and business leaders alike as they look to the future of the G7 economies.
The U S Current Account Deficit Whose Problem Is It
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Author : Hauke Barschel
language : en
Publisher: GRIN Verlag
Release Date : 2007-12-10
The U S Current Account Deficit Whose Problem Is It written by Hauke Barschel and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-10 with Business & Economics categories.
Seminar paper from the year 2004 in the subject Economics - International Economic Relations, grade: 1,7 (A-), Anglia Ruskin University (Ashcroft International Business School), language: English, abstract: Since the beginning of the 1980s in almost every year the United States (US or USA) current account has shown a deficit. After a brief overview about the components of a country's current account this work provides an analysis of the US deficit's effects on the US economy. Furthermore it investigates effects on economies outside the US in order to verify whose problem it is.
Sharp Reductions In Current Account Deficits
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Author : Mr.Gian Milesi-Ferretti
language : en
Publisher: International Monetary Fund
Release Date : 1997-12-01
Sharp Reductions In Current Account Deficits written by Mr.Gian Milesi-Ferretti and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-12-01 with Business & Economics categories.
The paper studies determinants and consequences of sharp reductions in current account imbalances (reversals) in low- and middle-income countries. It poses two questions: what triggers reversals, and what factors explain how costly reversals are? It finds that both domestic variables, such as the current account balance, openness to trade, and the level of reserves, and external variables, such as terms of trade shocks, U.S. real interest rates, and growth in industrial countries, seem to play important roles in explaining reversals in current account imbalances. It also finds some evidence that countries with a less appreciated real exchange rate, higher investment, and more openness before the reversal tend to grow faster after a reversal occurs.
Is The U S Current Account Deficit Sustainable
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Author : Sebastian Edwards
language : en
Publisher:
Release Date : 2005
Is The U S Current Account Deficit Sustainable written by Sebastian Edwards and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Fiscal policy categories.
"In this paper I analyze the relationship between the U.S. dollar and the U.S. current account. I deal with issues of sustainability, and I discuss the mechanics of current account adjustment. The analysis presented in this paper differs from other work in several respects: First, I emphasis the dynamics of the current account adjustment, going beyond computations of the "required" real depreciation of the dollar to achieve sustainability. I show that even if foreigners' (net) demand for U.S. assets continues to increase significantly, the current account deficit is likely to experience a large decline in the (not too distant) future. Second, I rely on international evidence to explore the likelihood of an abrupt decline in capital flows into the U.S. And third, I analyze the international evidence on current account reversals, to investigate the potential consequences of a (possible) sudden stop of capital flows into the U.S. This analysis suggests that the future adjustment of the U.S. external accounts is likely to result in a significant reduction in growth"--National Bureau of Economic Research web site.
Macroeconomics For Professionals
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Author : Leslie Lipschitz
language : en
Publisher: Cambridge University Press
Release Date : 2019-01-23
Macroeconomics For Professionals written by Leslie Lipschitz and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-23 with Business & Economics categories.
Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.
The External Balance Assessment Eba Methodology
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Author : Mr.Steven Phillips
language : en
Publisher: International Monetary Fund
Release Date : 2014-01-13
The External Balance Assessment Eba Methodology written by Mr.Steven Phillips and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-13 with Business & Economics categories.
The External Balance Assessment (EBA) methodology has been developed by the IMF’s Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing between the positive empirical analysis and the normative assessment of current accounts and exchange rates, and highlights the roles of policies and policy distortions. This paper provides a comprehensive description and discussion of the 2013 version (“2.0”) of the EBA methodology, including areas for its further development.